Mr. Chuck Downie reports

EAGLE PLAINS ANNOUNCES SALE AGREEMENT FOR RUSTY SPRINGS PROPERTY, YT

Eagle Plains Resources Ltd. has entered into a purchase and sale agreement, dated Oct. 29, 2025, with Blackcomb Silver Corp., a private British Columbia company, where by Blackcomb has acquired a 100-per-cent interest in Eagle Plains' wholly owned Rusty Springs silver-lead-zinc-copper project.

Under the terms of the agreement, Eagle Plains will grant a 100-per-cent interest in the Rusty Springs property to Blackcomb in exchange for five million common shares of Blackcomb. In addition, Eagle Plains will retain a 0.5-per-cent NSR (net smelter return) royalty on the current Eagle Plains claims and an additional 1.5-per-cent NSR royalty on 343 additional claims staked by Blackcomb, of which Blackcomb may purchase 0.5 per cent for $1-million. Eagle Plains will receive an additional five million shares upon Blackcomb delivering an inferred resource estimate of a minimum of 80 million silver equivalent ounces. The current Eagle Plains claims have a 2-per-cent NSR royalty held by Eagle Royalties Ltd., subject to a buyback clause by which Eagle Plains can purchase 1 per cent from Eagle Royalties for $1-million.

The Blackcomb and Eagle Plains claims form a land package of approximately 7,540 hectares.

Chuck Downie, president and chief executive officer of Eagle Plains, recently commented: "We are very excited to return to our company roots and embark on another chapter of exploration at our original listing property. The multi-square-kilometre footprint of alteration, anomalous multielement geochemistry and high-grade silver mineralization at Rusty Springs indicates the presence of a significant mineralizing event. We believe that discovery potential exists both in the areas of historic work and within the broader claim area."

Tim J. Termuende, executive chairman of Eagle Plains, added: "Rusty Springs holds a special place in my heart, owing to our long family history of the project, which dates back nearly 50 years since its initial discovery and staking by my father and his colleagues in the mid-1970s. It is an extremely well-endowed area with geology and mineralization that has perplexed many who have worked there over the years. We wish Blackcomb the very best in their exploration efforts and remain enthusiastic shareholders and supporters."

About Rusty Springs

Rusty Springs property is located in Yukon, Canada, about eight kilometres south of the Arctic Circle and 29 kilometres east of the Alaska border. Access is by wheel-/ski-equipped aircraft or by winter road. The great extent of mineralized and altered rocks, strata-bound nature and common significant thicknesses, high grades, and potential for supergene enrichment make Rusty Springs an attractive target for large-tonnage base and precious metal deposits. Rusty Springs was discovered in 1975 after investigation of the deep red-orange springs and seeps in the valley of Carrol Creek led to the discovery of nearby silver, lead, zinc and copper mineralization. The property hosts silver-lead-zinc mineralization associated with a 25-to-40-metre-thick replacement horizon within carbonate rocks. Approximately 35 showings are present within the property area and consist of both high-grade vein occurrences and replacement mineralization.

Since the original staking of the property in 1975, Eagle Plains personnel and others have defined mineralization over a six-square-kilometre area. Drilling highlights from the property include hole 77-08, which was reported to have returned:

• 945 grams per tonne (30.38 ounces per ton) silver, 4.72 per cent lead and 2.30 per cent copper over 37.5 metres (123 feet) from surface to a depth of 37.5 metres (Yukon Energy Mines and Resources assessment report No. 092030).

Eagle Plains acquired the property in 1992 and, in 1995, drilled hole 95-07, which was located 1.5 kilometres from hole 77-08 and tested the same stratigraphic interval as hole 77-08, returning:

• 517 grams per tonne (15.1 ounces per ton) silver, 3.0 per cent copper and 1.3 per cent zinc over 15.3 metres from 28.6 metres to 43.9 metres (Yukon Energy Mines and Resources assessment report No. 093417).

Since its discovery, the property has seen nearly $5-million in exploration activity, including 10 separate drill campaigns in two major phases (1975 to 1983 and 1994 to 1996) totalling over 10,000 metres of drilling in 123 holes.

Exploration has mainly targeted high-grade silver, lead, copper and zinc mineralization within brecciated and quartz and carbonate cemented and veined dolomite and has been based on several genetic models, including: Mississippi Valley type (MVT); Irish type (carbonate-hosted exhalative); epithermal type (veins and/or hydrothermal replacement along a karsted surface, with supergene enrichment); and manto chimney type (high-temperature, carbonate-hosted massive sulphides).

Management cautions that some of the historical results were collected and reported by past operators and have not been verified or confirmed by a qualified person but form a basis for continuing work on the subject properties.

Qualified persons

Charles C. Downie, PGeo, a qualified person for the purposes of National Instrument 43-101, Standards of Disclosure for Mineral Projects, and a director of Eagle Plains, has reviewed and approved the scientific and technical disclosure in this news release.

About Eagle Plains Resources Ltd.

Based in Cranbrook, B.C., Eagle Plains is a well-financed, prolific project generator that continues to conduct research, acquire and explore mineral projects throughout Western Canada, with a focus on critical metals integral to an increasingly electrified, decarbonized economy.

The company was formed in 1992 and is the fourth-oldest listed issuer on the chief executive officer (and the only one of these four that has not seen a rollback or restructuring of its shares). Eagle Plains has continued to deliver shareholder value over the years and, through numerous spinouts, has transferred over $110-million in value directly to its shareholders, with Copper Canyon Resources and Taiga Gold Corp. being notable examples. Eagle Plains' latest spinout, Eagle Royalties, was listed on May 24, 2023, and holds a diverse portfolio of royalty assets throughout Western Canada. On Oct. 30, 2025, Eagle Royalties shareholders overwhelmingly approved a three-cornered amalgamation that will result in a reverse takeover of Eagle Royalties by Summit Royalty Corp. Eagle Royalties shareholders will receive a consideration of 18 cents per Eagle Royalties share, representing a premium of 47 per cent based on Eagle Royalties' closing price on June 30, 2025, on the Canadian Securities Exchange. The resulting issuer will be named Summit Royalties Ltd. and will trade under the symbol SUM on the TSX-V. The transaction is expected to close on or about Nov. 4, 2025.

On Oct. 2, 2024, Eagle Plains announced the formation of a separate division within the company that will give Eagle Plains' shareholders direct exposure to strategic opportunities in Canadian green energy transition. As a wholly owned subsidiary of Eagle Plains, Osprey Power Inc. will focus on identifying and advancing innovative and diverse clean energy project portfolios in target markets throughout Canada, with an initial focus on Western Canada.

Eagle Plains' core business is acquiring grassroots critical and precious metal exploration properties. The company is committed to steadily enhancing shareholder value by advancing its diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team.

Expenditures from 2010 to 2024 on Eagle Plains-related projects exceed $39-million, the majority of which was financed by third party partners. This exploration work resulted in approximately 50,000 metres of diamond drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.

Throughout the exploration process, Eagle Plains' mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.

We seek Safe Harbor.